Indiana Series Llc Operating Agreement

Filing organization items for an Indiana Series LLC costs $250 $US. The state charges an additional $30 for filing items of the designation that you must submit for each series of your LLC series that you wish to create. While a series LLC always protects your personal car, home, bank accounts, etc., it also protects other LLCs in the series from lawsuits. In other words, creditors can only track the assets of an LLC, not the entire series. If an owner does not have the staff (accountant – CPAs), software, processes, systems and/or discipline to maintain detailed and accurate statements to identify assets that are separated from the assets of the other series, the LLC Series is not a good choice of entity for that investor. But if an investor uses the right resources to separately keep records of the assets in each series, then the LLC series could be the perfect decision for the company. The Indiana Series LLC Enterprise Agreement defines the structure, management and operations of your organization, making it one of the most important internal documents in your LLC series. The enterprise agreement of your Indiana Series LLC, as well as its statutes and designation articles, will allow your organization to form and dissolve series, and you will change your business agreement every time a new series is formed or dissolved. You don`t have to worry about designating different registered agents for each LLC segment, as you can have the same agent registered for each LLC in the series if you wish. More information about the designation of an LLC – whether it is an LLC series or a traditional LLC – can be found in our comprehensive guide to the designation of an LLC. It is essential for each LLC to open a commercial bank account, as this helps you maintain the separation between personal and professional finances, which is required of all official business units. However, there is an additional level for this step for the LLC series, as you must open a bank account for the parent company of the LLC series as well as for each of the LLC segments under your roof. As the LLC series is still relatively new in some countries, we have a lot of questions about what exactly the LLC series is and how you can form one.

That`s why we decided to write these articles that break down the operation of the LLC training series process in each state. However, unlike a traditional LLC, an Indiana Series LLC can create divisions called “series” in itself that have most of the same skills as its parent company (often called “Master LLC”). Each series of Indiana Series LLC, like the organization`s Master LLC, may hold its own assets, have its own business purposes, be sued, be sued and enter into contracts. The answer depends on where your Indiana Series LLC, as well as its individual series, operate in the state. Indiana does not issue a national commercial license, but some cities and counties have their own licensing requirements. For a serial interest to have limited liability, all of the following must appear: (1) Master LLC`s operating contract or a series contract provides for limited liability; (2) Master LLC`s operating contract defines or provides for one or more series; (3) registrations held separate from the assets of Master LLC and any other Series of Master LLC for serial interest in the assets related to this series; 4. Master LLC`s organizing articles provide information on limiting liability for the interest of the series; and (5) Master LLC filed items of the designation for the series of interest to the Secretary of State.